Rousing Bronx Cheer

It has been a long time since I have read any Commentary on Karl Marx, and I would first like to admit that The Skeptical Optimist effectively and accurately described Marx’s Thought, this not being any criticism of his evaluation. I would further state that David Ricardo presented a better exhibition of the ‘labour theory of value’, than did the bitter Marx. The Point I would like to stipulate consists of the fact Capitalists of the time in which Marx wrote were basically as evil as Marx alleged, and Marx misconstrued the Capitalist system as the Evil, rather than the Social system in which it operated. Bill Gates also tends to blame the Message for the behavior of the Messenger. I wonder if he realizes he is functionally that Messenger.

Everyone in the blogosphere is weighing in on any Stimulus package, but this Post gives a good, balanced view of the possible venues. I do not like Tax Rebates for a number of reasons. They reinforce economic trends which need no assistance. Rebates to the Poor will inevitably be spent on the most Inflationary aspect of the economy–Energy, Food, and Utility bills; providing no increase in provision, only increase in Pricing. Rebates to Business do not lead to Investment within a declining Consumption pattern, only an effective entrenchment of policies which led to the Recession in the first place. Rebates to the Wealthy, or even the Middle Class, do not generate the necessary amendment of Consumption patterns which favors future economic performance, while simply expanding the Debt of Government. The Whole is trying to use a Mistake, as a Cure for a summation of past mistakes.

Here is a projection of the various positions on fiscal and monetary stimulus by PGL at Angry Bear. I do not agree with Most of the Espousers listed, and their Views leaves One with the desire to retreat into the Mountains, and leave the World to its fate. I must chose some option from the Measures proposed–or must I? There is always the Option of letting the Economy alone, and letting market forces extend whatever curatives to be obtained. My Favorite Option would be to reverse the Bush Tax Cuts immediately, introduce a $1/gallon Gas tax, and repeal any and all Tax remissions for Investment Overseas. Do I sound as bad as Karl Marx? Nah, about as many people read Me as much as they ever really read him. lgl